#以太坊行情解读 12/19 evening BTC market trend analysis: Here's my thought process

Bullish logic

Looking at support: The intraday low of 84,408.6 held, which is a short-term turning point for a decline. Clearly, funds are bottom-fishing here. If the price retraces to this level tonight and doesn't break below, a rebound is highly likely.

Looking at the trend: Previously surged to 89,447.9, indicating that the bullish momentum hasn't been fully exhausted. Now the price has regained above 87,000, which is a confirmation after a breakout. There’s a possibility of another upward push tonight, even breaking new highs.

If the price can stabilize above 88,000, the first target is 89,500. If it breaks the previous high, 91,000 is within sight.

Bearish perspective

The resistance level is at 89,447.9, which has been tested multiple times without breaking. Currently, near 88,000, there’s signs of stagnation, and the bullish momentum has weakened, increasing the likelihood of a sell-off.

From a technical standpoint, the long upper shadow after intraday rally indicates heavy selling pressure above. If the price cannot break 88,500 tonight, a double top pattern will form, leading to a technical correction.

If the price drops below 87,500, first watch 85,000, and if it breaks below 84,408.6, then 83,400 should be the next support.

Trading strategies

For longs: Look for stabilization between 87,000–87,500, with a stop-loss at 86,500.
For shorts: Resistance at 88,500–89,000 during a rebound, with a stop-loss at 89,500.

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